Pipeline Monitoring Systems Market Size to Reach US$ 21.9 Billion by 2028, at CAGR 6.38% (2023-2028)

IMARC Group, a leading market research company, has recently releases report titled "Pipeline Monitoring Systems Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028." The study provides a detailed analysis of the industry, including the global Pipeline Monitoring Systems market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How Big is the Pipeline Monitoring Systems Market?
The global pipeline monitoring systems market size reached US$ 14.9 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 21.9 Billion by 2028, exhibiting a growth rate (CAGR) of 6.38% during 2023-2028.

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Pipeline monitoring systems comprise various technologies, such as ultrasonic testing, smart ball, magnetic flux leakage, and pipeline inspection gauges (PIGs), and are widely available as metallic and non-metallic pipes. These monitoring systems are reliable, cost-effective, and provide continuous and real-time monitoring of pipeline fluids and gases in actual operating conditions. They also offer online analysis of chemical treatment programs and collect data for pipeline risk evaluation and integrity. They can be easily installed on new or existing lines offshore or onshore and aid in monitoring the leakage of oil and gas in pipelines and storage tanks due to high pressure or natural disasters. They assist in evaluating corrosion and bacteriological control programs and collecting samples without generating hazardous waste. Besides this, they eliminate the risk of explosion and fire while enhancing safety and security. As they detect and accurately locate changes around a pipeline, pipeline monitoring systems find applications in the oil and gas and wastewater industries across the globe.

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What are the growth prospects and trends in the pipeline monitoring systems industry?

At present, the rising demand for pipeline monitoring systems due to the increasing incidences of pipe leakages, cracks, and breaks in the oil and wastewater industries represents one of the key factors supporting the growth of the market. Besides this, the growing installation of pipelines for the transportation and distribution of oil and gas supplies worldwide are offering a positive market outlook. Additionally, there is a rise in the need for lower maintenance costs with enhanced safety compliance solutions among the masses around the world.

This, coupled with the increasing utilization of pipeline monitoring systems to reduce wastage, is propelling the growth of the market. Apart from this, the rising integration of the internet of things (IoT) in the pipeline monitoring systems to provide improved safety, reliability, productivity, and performance of industrial assets and equipment is offering lucrative growth opportunities to industry investors. Moreover, the increasing adoption of pipeline monitoring systems, as they provide real-time notifications on any critical situations without the need to dispatch field personnel across the globe, is positively influencing the market.

In addition, various benefits offered by pipeline monitoring systems, such as reduced geo-hazards, thefts, and ruptures, are contributing to the growth of the market. Furthermore, technological advancements, such as human-machine interface (HMI), distributed vibration sensing (DVS) or distributed acoustic sensing (DAS), distributed temperature sensing (DTS), and programmable logic controller (PLC), around the world are strengthening the growth of the market.

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Global Pipeline Monitoring Systems Market 2023-2028 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

ABB Ltd., Honeywell International Inc., Huawei Technologies Co. Ltd., Orbcomm Inc., Pentair plc, PERMA-PIPE International Holdings Inc., PSI Software AG, Siemens AG, TC Energy Corporation, Thales Group and Xylem Inc.

The report has segmented the market on the basis of region, pipe type, technology, application and end use industry.

Breakup by Pipe Type:
• Metallic Pipe
• Non-metallic Pipe

Breakup by Technology:
• Ultrasonic Testing
• Smart Ball
• Magnetic Flux Leakage Technology
• Pipeline Inspection Gauges (PIGs)
• Others

Breakup by Application:
• Leak Detection
• Pipeline Break Detection
• Operating Condition
• Others

Breakup by End Use Industry:
• Oil and Gas
• Water and Wastewater
• Others

Breakup by Region:
• North America: (United States, Canada)
• Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Latin America: (Brazil, Mexico, Others)
• Middle East and Africa

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Key highlights of the report:
• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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